Cashless Transactions - Inputs on Issues faced
Despite a lot of push on cashless and digital transactions by the Govt, it appears that the consumers to struggle when making card payments as the merchants levy anywhere between 1.2-2% extra charges for electronic payments.
With this post, we would like to seek your inputs on all issues that you have faced in last 1 year when trying to do a digital/cashless i.e. credit card, debit card, wallet, RTGS/NEFT transaction.
Kindly share as much detail as possible!
We look forward to your inputs. more
Cash Transactions without limiting to a reasonable of Rs.2,000/- RESULTING IN MISUSE OF CURRENCY FOR PURCHASE OF VOTES and increasing Black Money Challenging Economic inequality while also unconstitutionally increasing unreasonable Wealth Concentration that was set for Control in the Constitution. more
Yes many shops like to charge extra for payment by card, particularly when amounts can be large, like all jewelers will not take any payment by card without extra charge, similarly smaller stores either have no card machines or other digital device for cash less transactions
One more issue is charging GST over MRP, for which best is to have it compulsory for every registered dealer of GST to display certificate of registration with rate of GST on products dealt by the respective dealer as well, this will help in consumer assessing the right charge for his purchases more
The solution would be (1) waiving all transaction fee on card usage. This could be taken as expenditure and needs to be borne by Government initially. (2) Secondly enforcement of only card payments should be made and punishments should be levied on site if cash payments are insisted. (3) Thirdly, in rural areas also small shop owners need to be convinced to accept card payments and any expenditure of them may be subsidized. After all India is using crores of rupees in a number of social schemes. This will be petty amount to bring vast change in the country. more
Many travel agencies are not accepting credit or debit cards, they prefer cash or cheque. Certain stores who are selling expensive items such as A/cs, washing machines, TVs, etc. too would not accept credit cards or they are asking for 2/5% increase in price. Small traders and provision stores are accepting cards and also most restaurants. Fast food chains make an excuse that their machines for card swiping do not work. more
Yes, agreed. Many shops add 2% for card payment. Further, for card payments to most Govt. agencies (such as IRCTC) the banks levy additional 1-2% bank charges. Also, bank charges of 1-2% of transaction value from the merchant is too high. It should be reduced to 0.5%. Instead of bank charges many merchants (such as PVR cinemas) they add convenience charge. All this defeats the basic purpose of cashless transaction.... Convenience charge must be banned by the Government. more